Climate: - ranges from steppes in the south through humid continental in much of European Russia;- subarctic in Siberia to tundra climate in the polar north;- winters vary from cool along Black Sea coast to frigid in Siberia;- summers vary from warm in the steppes to cool along Arctic coast.

Natural hazards: - permafrost over much of Siberia is a major impediment to development;- volcanic activity in the Kuril Islands;- volcanoes and earthquakes on the Kamchatka Peninsula;- spring floods and summer/autumn forest fires throughout Siberia and parts of European Russia.

Statistics

Russia FY2018 Market Portfolio

Russia FY2018 Rankings

Latest news

For the first three months of this year, INGOSSTRAKH's net profit decreased by 20% to RUB 2.5 billion. Profit before tax for this period dropped by 18%, ASN reports in reference to the insurer's statement.

From May 7, 2019, the All-Russian Insurance Association (ARIA) will start checking insurer compliance with new mandatory standards related to operations on the insurance market and protecting consumer rights in insurance services, ASN reports.

According to the Bank of Russia, in 2018 the insurer profit grew by almost 70% to RUB 204.1 billion (vs RUB 120.6 billion in 2017). Return on equity reached 31.2%, total assets increased by more than 20% and exceeded RUB 2.9 trillion, based on the survey of key indicators of insurer activity in 2018.

According to a study by the Bank of Russia on the financial accessibility for disabled persons, in 2018 "voluntary insurance services were used by 19.9% of the Russian population in general and 9.4% of disabled people, while compulsory insurance services were used by 89.1% of the population in general and by 97.9% of disabled people," the document says.

On April 1, 2019, Alexander ZARETSKI will step down from his presidency of METLIFE. According to the Company's Board of Directors, this decision was made for personal reasons. Gheorghe DIMITRU will take over as president, ASN wrote.

In 2018, the share of the Russian National Reinsurance Company (RNRC) in total outward reinsurance of the Russian insurance companies amounted to 10% (vs 7.3% a year ago), according to a report by RNRC.

The market total GWP in 2018 exceeded RUB 1,479 trillion for the first time in the last 6 years, the growth rate showed its maximum and reached 15.7% (vs 8.3% a year ago), according to the data, published by the Bank of Russia.

Based on 2018 results, SBERBANK Life Insurance ranked first in terms of GWP among all market insurers. The company's GWP reached RUB 181.5 billion. As the same time, the insurer removed SOGAZ - whose GWP amounted to RUB 160.5 billion - from its leading position, as regulator's data show.